Electricity Subsidy Surges by 220%, Reaches Almost N2trn
The Federal Government’s electricity tariff subsidy jumped from N610bn in 2023 to N1.94tn in 2024. This represents a 219.67 per cent increase in yearly subsidy funding, despite the Band A tariff hike of April 2024.
The Nigerian Electricity...
Electricity Subsidy: Hospitals, Tertiary Institutions May Gulp N188bn
The Federal Government may spend approximately N188.25 billion annually to subsidise electricity supply for about 75 public tertiary hospitals and 300 educational institutions across the country.
This follows the Federal Government’s approval of a 50 per cent subsidy...
States Set to Eliminate Electricity Subsidy
State governments are getting set to eliminate electricity subsidies in their territories as more states gear up to join others in running their different power markets under their own laws.
In a document put together by the Nigeria Governors’ Forum,...
IMF to FG: Remove Implicit Fuel, Electricity Subsidies
The International Monetary Fund has warned the Nigerian government to remove what it called implicit fuel and electricity subsidies.
In a report published recently by the IMF, the organisation told Nigeria that the subsidies would guzzle three per...
85% of Nigerians Still Savouring Electricity Subsidies, Says Information Minister
In the face of public backlash against the recent electricity tariff hike for Band A customers in Nigeria, the Federal Government has revealed that a staggering 85% of citizens still enjoy electricity subsidies, despite the...
FG Spends Over N5trn To Cover Electricity Subsidy In 10 Years
The federal government’s effort to subsidise electricity tariff for Nigerians has seen it cough out over N5 trillion in the last 10 years amounting to over 664 per cent growth, data from the Nigerian...
